WASHINGTON — President Obama on Monday warned Republicans against refusing to raise the nation’s debt ceiling, calling such talk “irresponsible” and “absurd” and saying it would set off an economic crisis and financial hardship.
“They will not collect a ransom in exchange for not crashing the American economy,” Mr. Obama said during his final news conference of his first term in office. “The full faith and credit of the United States of America is not a bargaining chip.”
The president repeated his vow to seek what he called a “balanced” approach to reduce the nation’s deficit during the months ahead. But he said he would not negotiate on the debt ceiling, and he said Republicans in Congress would be responsible for the effects of a refusal to raise it.
“It would be a self-inflicted wound on the economy,” Mr. Obama said. “It would slow down our growth and tip us into recession. To even entertain the idea of this happening is irresponsible. It’s absurd.”
He added: “America cannot afford another debate with this Congress about whether or not they should pay the bills they’ve already racked up.”
h/t New York Times
The current crisis will eclipse the Great Depression. This follows from the analysis of the Bible. An ancient vision says: "And [the king of the north] will go back (to) his land with great wealth [1945]; and his heart (will be) against the holy covenant [state atheism]; and will act [it means activity in the international arena]; and turned back to his own land [1991-1993. The collapse of the Soviet Union and the Warsaw Pact. Russian troops returned to their country]. At the appointed time [he] will return back." (Daniel 11:28, 29a) The return of Russia in this context means crisis, which will eclipse the Great Depression. Not only the eurozone will break up, but also the European Union and NATO. Then many countries of the former Eastern block will return to Russia's zone of influence. Russian troops will be stationed here again.
This will be the last sign before the global nuclear war. (Daniel 11:29b, 30a; Numbers 24:23, 24; Matthew 24:7; Revelation 6:4).
All the details of this vision are being fulfilled from the time of ancient Persia, in chronological order. It is true that this vision is variously interpreted. As one can see, it has a lot of details. Therefore the insightful person is able to detect any error or sophistry.
In 1882 British troops occupied Egypt. Great Britain then took the role of "the king of the south". Around the same time, Russia expanded its influence in the region, which previously belonged to Seleucus I Nicator, and took the role of "the king of the north". (Daniel 11:27)
It's not sophistry. I say this since 1998, when Russia was almost bankrupt.